Drum) and I are running into is with our agent - he is very down on the Watertown area with rental laws, the tenant pool (aside from military) and a lot of the properties we have been looking at (condition wise). 

These are high risk investments only available to accredited investors who definition in law are the only ones who should be taking on that risk.

I think screening will be your best friend if you go this route to prevent the most headaches. 2) I'd say the biggest problem renting by room is potentially laws about unrelated persons living in same household.

The knowledge needed is real estate principles, real estate law, and real estate finance.

My goal really is just to do my best to do the right thing by following the rules and laws that are in place for landlords, provide a good experience for tenants, and make some money while doing it.  

Evictor Denise Holiday is one of Arizona's best law firms/attorneys for landlord representation and or eviction.

Having a team in place that understands the laws, inspections, etc. was crucial for me.

In a similar but smaller scale situation I had my real estate attorney reach out to the law firm listed as the LLC's representative (this was for a single unit not whole buildings) and it turned out the owner was letting their kid live there and didn't have interest in selling for that reason but I felt it was worth the tryI hope to hear more updates from you @Cole Barthel !!

A lot of what people on here tell you to do is what also gives Landlords a bad rep and often causes cities to change laws that limit Landlord abilities.

We have been flipping for about 10 years in U.S and we definitely understand that there may be many rules, laws and regulations limiting the ability to flip for a profit worth the effort.